Under Acceptance. If in respect of a Time Unit and a TVB Transaction, the Contract Quantity exceeds the Delivered Quantity by reason of Buyer’s Default, the Buyer shall pay to the Seller an amount (if positive) equal to: (a) the difference between the Contract Price and the Positive Imbalance Price, (b) multiplied by the Default Quantity.
Appears in 2 contracts
Sources: TVB Appendix to the General Agreement Concerning the Delivery and Acceptance of Natural Gas, TVB Appendix to the General Agreement Concerning the Delivery and Acceptance of Natural Gas